Retail sector marked by early decline

NEW YORK (MarketWatch) -- Retail shares opened lower Monday, caught up in intensified credit-market worries after financial-services giant Citigroup Inc. said it might have to write off $11 billion more in subprime-related securities it holds.

The S&P Retail Index
RLX, +0.00%
fell 1.6% to 436.57 in morning dealings, tracking the declines in the broader markets.

Retailers are forecast to have their worst holiday season in five years amid credit and housing market woes, according to trade group National Retail Federation. Declining housing values and tightening credits have hurt consumer sentiment heading into the holidays -- for most retailers, their biggest selling period.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information. Intraday data
delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc.
All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More
information on NASDAQ traded symbols and their current financial status. Intraday
data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S&P/Dow Jones Indices (SM)
from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Financial Information and is
at least 60-minutes delayed. All quotes are in local exchange time.